Asean Morning News
Compiled by Sreypov Men @MenSreypov
Oil price surge brings little cheer to Asia
Crude oil’s spectacular climb to the $60-$70 a barrel should boost government revenues for Asia’s major oil-producing countries such as Indonesia, Malaysia, Australia and Vietnam.
— Nikkei Asian Review
Asean pushes for liberalised trade pact with India
The members of the Association of Southeast Asian Nations have mounted pressure on India for clinching a liberalised pact in goods and services also involving six other countries, including China, by this year.
— The Daily Star
India, ASEAN call for binding code of conduct in South China Sea
India and the Association of Southeast Asian Nations have called for the completion of a binding code of conduct for parties in the South China Sea in the face of China’s aggressive expansion in the region.
— Philstar Global
Indonesia, Malaysia palm oil output to rise in 2018; may pressure prices
Palm oil output in the world’s top two producing countries is forecast to climb to new highs this year as output fully recovers from its El Nino-stunted 2017 level, pushing 2018 average prices down by 7 percent from last year, a Reuters poll showed.
— The Star online
Rejuvenated Toshiba Lifestyle looks to clean up in Southeast Asia
After a year and half of pushing through reforms since it was purchased by China’s Midea Group, Toshiba Lifestyle Products & Services, the former home appliances wing of Toshiba, is looking to grow again.
— Nikkei Asian Review
Four foreign investors eye GENCO 3
Four foreign investors from India, Thailand, the Republic of Korea and the Middle East registered to buy 36 percent of the charter capital at the Power Generation Corporation 3 (GENCO 3) to become its strategic investors.
— VietnamNet Bridge
Thailand agrees to enhance regional ties during ASEAN-India summit
Prime Minister Prayut Chan-o-cha was satisfied with the outcome of the ASEAN-India Commemorative Summit which agreed to enhance regional ties for mutual and sustainable economic growths.
— News Today (video)
Dhaka seeks Jakarta’s support to be Asean’s dialogue
The visiting Indonesian president has encouraged Bangladesh for a more active engagement with Asean.
— Dhaka Tribune
China-ASEAN trade volume hits record high in 2017
Trade volume between China and ASEAN countries hit a record high in 2017, according to the Ministry of Commerce.
— Xinhua Net
Freezing in the tropics – Asean’s air-con conundrum
Southeast Asia is facing a growing cooling crisis, but its people remain unaware of the threat that inefficient cooling technologies can pose to national development and the environment, finds a new whitepaper published today.
— Eco-Business
ASEAN Businesses Boost Investment in Own Backyards
Business in the Association of Southeast Asian Nations is entering a new phase as regional companies increasingly look to neighboring countries for investment opportunities.
— Financial Tribune
Southeast Asia aviation 2018 outlook: more rapid growth, low profit margins and intense competition
Southeast Asia is a region of rapid growth and huge potential. Passenger traffic in Southeast Asia grew by approximately 10% in 2017, when at least half of the region’s 10 countries recorded double-digit growth.
— Centre For Aviation
Ocean plastics raise risk of coral reef disease
Researchers examined more than 120,000 corals on 159 reefs — some polluted with plastic, others not — from Indonesia, Australia, Myanmar and Thailand for the study in the journal Science.
— Mizzima
Australia’s Asia-Pacific trade balancing act
The TPP, now revitalised after stalling following the departure of the U.S, is an opportunity for Australia to show itself as a credible leader on the international stage. In particular, Australia can take up the areas that the U.S drove forward while it was part of the deal: environmental sustainability, intellectual property, and rigorous governance and control mechanisms.
— Global Risk Insight
Cambodia Morning News
Compiled by Sreypov Men @MenSreypov
Cambodia Jails Environmental Activists For Photographing Boat (video)
Cambodia’s human rights record and justice system suffered another blow today, January 26, when two environmental activists were jailed for taking a photograph of a boat on the ocean.
— AEC News Today (video)
Tax revenue exceeds expectations following reforms
The General Department of Taxation (GDT) collected $1.93 billion in tax revenue last year, a 30 percent increase over 2016 and well above the government’s own projections, according to the department’s director, Kong Vibol.
— The Phnom Penh Post
Kampong Speu fruit processing factory breaks ground
Construction began yesterday on a $10 million factory in Kampong Speu province to process fresh fruit for international export, a first for Cambodia, though Agriculture Ministry officials could not confirm it would meet international standards yesterday.
— The Phnom Penh Post
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Sreypov Men @MenSreypov
Indonesia’s GMF AeroAsia to raise $59m in new share sale
Indonesia’s PT Garuda Maintenance Facility AeroAsia said on Friday it would sell 2.34 billion new shares at a minimum price of 336 rupiah a piece in a share sale.
— DealStreetAsia
Indonesian Government’s 35,000 MW Electricity Program is at 48 Percent
The availability of adequate, equitable and affordable electricity will increase the investments and economic growth of the people.
— Netral News
Indonesia wins dispute against EU biodiesel import duties
Indonesia has won a biodiesel dispute against the European Union (EU) at the World Trade Organization (WTO) that will pave the way for the Southeast Asian country to revive its biodiesel exports to the EU.
— The Jakarta Post
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Leakhena Khat @leakhenakhat
Transport Minister gets update on planned 6th Thai-Lao Friendship Bridge
The Transport Minister has made a trip to check the progress of the planned construction of the new Thai-Lao Friendship Bridge in Ubon Ratchathani.
— NTT
Minimum wage hike still problematic
Businesses and factories may soon be required to increase the minimum wage from the present 900,000 kip to 1.1 million kip a month in a bid to improve workers’ standard of living.
— Vientiane Times
RHB Bank Lao Opens Dongdok Branch
RHB Bank Lao Limited opened its third branch – Dongdok Branch- at Saphangmuek, Xaythany district, Vientiane Capital on Jan 26, 2018.
— Lao News Agency
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Sreypov Men @MenSreypov
Malaysia’s Sime Darby mulling sale of stake in $1.7b Papua New Guinea arm
Sime Darby Plantation Bhd., Malaysia’s biggest listed palm oil producer, is exploring a sale of a minority stake in its Papua New Guinea unit, people familiar with the matter said.
— DealStreetAsia
Maybank to raise lending rates by 25bps on Monday
Malayan Banking Bhd will raise its base rate (BR) and base lending rate (BLR) with effect from Monday, in line with Bank Negara Malaysia’s decision to the increase in the Overnight Policy Rate (OPR).
— The Star Online
EU should ban butter, not palm oil, says Mah
The European Union (EU) should ban butter and not palm oil if it wants to use the environment factor as the basis for banning palm oil-based biofuels by 2020.
— Malay Mail
See here for more of today’s Malaysia Morning News
Myanmar Morning News
Compiled by Leakhena Khat @leakhenakhat
Aung San Suu Kyi lives in ‘bubble’, says US diplomat in row with Myanmar
Myanmar’s leader Aung San Suu Kyi is “isolated” and living in a “bubble”, according to veteran US politician Bill Richardson, who quit an international panel advising her government on the Rohingya crisis after clashing with the Nobel laureate.
— The Guardian
Myanmar government overhaul imminent
A major shake-up in Myanmar’s administration is in the pipeline as the government tries to tackle obstacles that stand in the way of economic progress, improved transparency and a more efficient bureaucracy.
— Bangkok Post
Infrastructure development critical for Myanmar to woo investors, forum hears
SINCE MYANMAR’S lack of adequate infrastructure may deter potential investors, the government must urgently bring infrastructure development into focus, according to the Myanmar Infrastructure Forum held on Friday.
— The Nation
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Leakhena Khat @leakhenakhat
Duterte offers ’42 virgins’ to visitors of Philippines
Philippine President Rodrigo Duterte told a group of Indian and Filipino business leaders in New Delhi that he would like to attract visitors to his country by offering “42 virgins”.
— Al Jazeera
Solar Philippines challenges bid for Meralco’s 24/7 power supply
Solar Philippines is challenging the bid of First NatGas Power Corporation for the 24/7 power supply of the Manila Electric Company (Meralco), coming from the 414-megawatt (MW) San Gabriel gas power plant.
— Rappler
Raw Milk: Filipino Men’s Improvisation Leaves Netizens Udderly Speechless (video)
In what is certain to send the mildest germophobic mum into a frenzy a video circulating on social media only adds to the many reasons why leaving infants in the care of their fathers for even a short time is not necessarily such a good idea. On the other hand, if necessity is truly the mother of invention as claimed, the men in the video above deserve top marks.
— AEC News Today
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Singapore, HK biggest Asia recipients of FDI after China in 2017: UNCTAD
MORE direct investments flowed into Asia last year despite a decline globally – and China, Hong Kong as well as Singapore were the biggest recipients, according to the United Nations Conference on Trade and Development (UNCTAD).
— The Business Times
PM Lee would like to hand over to his successor only after the next General Election
Prime Minister Lee Hsien Loong revealed on Friday that he will only hand over the prime ministership to his successor after the next General elections. The head of government was speaking to reporters at the end of his 2-day visit to New Delhi, where he co-chaired the Asean-India Commemorative Summit.
— The Independent Singapore
Singapore fund managers view politics, uncertainty, US rate hikes as key concerns
Global political risk and uncertainty and US rate hikes are the key concerns for Singapore investment managers this year, according to findings from an annual survey by the Investment Management Association of Singapore (IMAS).
— Asia Asset Management
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
Court Orders Thailand Anantara Resort Demolished (video)
Those planning a holiday at Thailand’s luxurious Anantara Resort Si Kao might be best advised to confirm their booking before making the journey to Thailand’s easternmost province after a court yesterday (January 26) ordered the premises removed.
— AEC News Today
Nida Poll director to resign over Prawit’s luxury watches
The director of the National Institute of Development Administration (Nida)’s polling agency has vowed to resign after top administration bowed to political pressure in suspending the release of a poll on Gen Prawit’s luxury wristwatches.
— Bangkok Post
Officials anxious pending report on Thailand’s compliance with EU fisheries rules
THAI FISHERIES and relevant authorities are anxiously awaiting a European Union (EU) review of the country’s status on IUU – illegal, unregulated and unreported – fishing problems.
— The Nation
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Sreypov Men @MenSreypov
Vietnamese export of wood, wooden products surpasses expectations in 2017
Vietnam’s wood and wooden product industry has prematurely achieved its export target set for 2020, as the sector ranked among the top ten areas that generated the highest export revenue for the country in 2017, according to statistics announced this week.
— Tuoi Tre
PV Gas seeking strategic foreign partner for 30% divestment by 2020
PetroVietnam Gas (PV Gas), a leading state-owned Vietnamese energy company, is seeking government approval for a divestment plan to sell 30% of its stock to a strategic partner by 2020.
— Nikkei Asian Review
Hanoi puts car policy in reverse
I shouldn’t be surprised, but Vietnam’s imposition of stringent checks on imported vehicles has sent shockwaves through international automakers, local consumers and also investors who see the country.
— Bangkok Post
See here for more of today’s Vietnam Morning News
Asean Morning News is the most comprehensive selection of reports on what you need to know from around the Asean Economic Community (AEC) published. All articles are hand curated by the team at AEC News Today. It is published M-F by AEC News Today: Governance, not government; policies not politics.
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